Elon Musk, CEO of Tesla Inc., is reported to be considering postponing his scheduled visit to India on April 21 and 22, according to sources familiar with the matter. Musk’s much awaited visit was aimed at meeting with Prime Minister Narendra Modi and announce Tesla’s plans to enter the Indian market.
Musk’s visit to India, following his tweet on April 10 expressing eagerness to meet PM Modi, coincides with pivotal discussions concerning Tesla’s global operations and future trajectory which is why, Musk is reported to reschedule his visit to india. The decision to delay the visit comes due to an impending conference call scheduled for April 23 in the United States, where Musk is expected to address and clarify inquiries about Tesla’s first-quarter performance. This conference call has been described by Wedbush Securities as a ‘moment of truth’ for Tesla, necessitating Musk’s focused attention on outlining growth strategies and pricing initiatives amid challenges such as slowing growth in China.
PM Modi, acknowledging Musk’s interest in investing in India, emphasized the importance of generating employment opportunities for Indian youth as a crucial aspect of any prospective collaboration. further, the Indian government’s recent notification of a new electric vehicle manufacturing policy, offering duty concessions to companies committed to local production, added another layer of significance to Musk’s proposed visit.
Tesla’s recent market challenges, including declining global EV sales and competitive pricing dynamics, have heightened the stakes for the company’s strategic decisions. Musk’s attention is likely drawn towards addressing investor concerns surrounding the launch of the low-cost Model 2 and articulating a comprehensive growth roadmap.
While specific reasons for the postponement remain undisclosed, the rescheduling of Musk’s visit underscores the intricate interplay between Tesla’s operational priorities and external commitments. Musk’s engagement with Indian officials, space startups, and business leaders was poised to catalyze discussions around Tesla’s market entry and potential collaborations in India.
Senior officials within the Indian government refrained from commenting on queries regarding Musk’s visit postponement.
